By Gabriela Baron
The Government Service Insurance System (GSIS) said Monday, Sept. 26, it is prepared to provide loan assistance to its members and pensioners who have been affected by Super Typhoon “Karding.”
GSIS President and General Manager Wick Veloso said the state pension fund has allocated P4 billion for its emergency loan budget in 2022.
“We will ensure that the loan assistance will be available to all qualified active members and old-age and disability pensioners based in the affected areas,” Veloso said.
Veloso said members who have an existing emergency load balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000.
Meanwhile, those without an existing emergency loan may apply for P20,000. Pensioners may also apply for a P20,000 loan which has a 6% interest and is payable in two years.
Qualified to apply are members who are in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months; have no pending administrative or criminal case; and have a net take-home pay of not lower than P5,000 after all required obligations have been deducted.
Veloso said other loan windows are also available for members and pensioners who are not qualified for emergency loan, including Multi-purpose Loan (MPL) which has a maximum loanable amount of P5 million.